Lucknow. To make rural women self-reliant in Uttar Pradesh, there is a provision of providing financial assistance for starting a business or expanding the existing business under the Mahila Udyami Credit Scheme. Under this, women associated with eligible Self Help Groups (SHG) can get interest free loan up to Rs 1 lakh. Its objective is to help women create their own source of income and promote small businesses in villages.
Women can use this amount for works like sewing-embroidery, handicrafts, making pickles, opening a small shop or dairy. This can also provide an opportunity to increase their work to those women who are not able to start business due to lack of capital.
The amount can be received in three installments
According to the available details of the scheme, there is a provision to provide assistance up to Rs 1 lakh in three installments. There is a provision of giving Rs 20,000 in the first instalment, Rs 30,000 in the second and Rs 50,000 in the third instalment. In this way the total amount will be one lakh rupees. A maximum period of three years for utilization and repayment of the loan is also mentioned. However, it is important to confirm the installments and payment terms with the concerned department.
Which women can get the benefit?
This scheme mainly focuses on rural women of Uttar Pradesh. According to the available information, to avail the benefits, a woman must be a resident of the state and an active member of a registered self-help group. It is also said that it is necessary for the group to be associated with the State Rural Livelihood Mission. The loan should be used to start a new business or expand an already running small business.
Will get help in starting business
Through this scheme, women can buy machines, raw materials or essential items related to business as per their need. For example, a woman working in tailoring can increase her work by buying a new machine, while a woman in dairy business can invest money in the needs of her business.
However, before applying, get the official information about the eligibility of the scheme, required documents, application process and loan conditions. This initiative can become an opportunity for self-employment for eligible women.